Cinemark Holdings, Inc. (NYSE:CNK) Receives $32.80 Average Price Target from Brokerages

Cinemark Holdings, Inc. (NYSE:CNK) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $32.80.

A number of brokerages have commented on CNK. Morgan Stanley boosted their target price on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Benchmark raised their target price on shares of Cinemark from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Thursday, October 31st.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System increased its stake in shares of Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after acquiring an additional 556 shares during the period. Natixis Advisors LLC boosted its holdings in Cinemark by 2.9% in the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after purchasing an additional 583 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the period. GAMMA Investing LLC raised its stake in shares of Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after buying an additional 906 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares during the period.

Cinemark Stock Performance

Shares of CNK stock opened at $31.06 on Friday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.66 and a beta of 2.40. Cinemark has a 52-week low of $13.19 and a 52-week high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The company’s 50 day moving average is $32.06 and its 200 day moving average is $27.76.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.61 EPS. On average, sell-side analysts anticipate that Cinemark will post 2 EPS for the current fiscal year.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.